2013-02-25 20:14:33 -
PORTLAND, OR--(Marketwire - February 25, 2013) -
Integra Telecom Inc. : integratelecom.com/
, a provider of fiber-based, enterprise-grade networking, communications and technology solutions, has closed its new $845 million senior secured credit facilities. The credit facilities include a $60 million revolving credit facility (undrawn at closing), a $585 million first lien term loan due 2019 and a $200 million second lien term loan due 2020. The net proceeds from the new credit facilities were used to refinance Integra's previously outstanding term loan and bonds, including the redemption and tender premiums thereon, and for general corporate purposes.
In connection with the financing, Standard & Poor's Rating Service affirmed Integra's corporate family rating of B and revised its outlook to stable from negative, while Moody's Investors Service affirmed its B3 rating and revised its outlook to positive from stable. The new credit facilities will lower the Company's annual cash interest expense by approximately $19 million and provide strong financial flexibility for the continued execution of the Company's strategic plan.
About Integra Telecom
Integra is one of the largest facilities-based providers of communication and networking services in the western United States. We connect businesses of all sizes with advanced networking, communications and technology solutions in 35 metropolitan markets. Integra owns and operates an enterprise-class network consisting of a 5,000-mile long-haul fiber-optic network, 3,000-miles of metropolitan fiber and a nationwide IP/MPLS network. Our fiber network connects directly to more than 2,200 enterprise buildings and data centers. Through our expansive Ethernet-over-copper footprint, we can deliver high-bandwidth services to more than 400,000 businesses. At Integra, we understand our customers need reliable, secure and flexible solutions delivered with unmatched expertise and quality of service. For more information, visit www.integratelecom.com : www.integratelecom.com
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